Doing business in Tanzania: New legislative developments
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This legal update is intended to serve as a reminder for companies that are registered in Tanzania, regarding the requirement to submit the information relating to beneficial owners, to the Registrar of Companies (the Registrar).
The Companies Act  defines a beneficial owner as a natural person:
Please note that the Notice  issued by the Business Registration and Licensing Agency earlier this year indicated that the deadline for submitting beneficial owners’ information to the Registrar is 31 December 2021.
Non-compliance with this requirement may result in a penalty of between USD 2,200 and USD 4,300 being imposed on the company.